Best Buy Restock Fee-Truth!

Beware of a 15% Restocking Fee at Best Buy-Truth!

Summary of the eRumor:
A message from a consumer complaining that when he returned a GPS that he'd purchased from a Best Buy store, he was charged a 15% restocking fee and would have to wait for a check to be sent to him for his refund. He complained that he was not told of the return policies when he purchased the item.

The Truth:
TruthOrFiction.com contacted Best Buy's corporate office and was told that the 15% restocking fee is accurate.

Best Buy told us:

"A 15% restocking fee will be charged on returns or exchanges of any opened notebook computers, projectors, camcorders, digital cameras, radar detectors, GPS/navigation and in-car video systems unless defective or prohibited by law. A restocking fee of 25% will be charged on Special Order Products, including appliances unless defective or prohibited by law. If a returned item is not in new condition or any accessories are missing, the full purchase price will not be refunded or credited. For the benefit of our customers, the above policies are printed at all checkout lanes, the customer service counter and on the backs of purchase receipts."

Refund policies and restocking fees have become the focus of regulatory interest in some states. In 2005 this led to fines for several retailers from the New York City Department of Consumer Affairs (DCA). The DCA fined Express, Staples, and the Sports Authority nearly $100,000 "for refusing customer returns without disclosing the conditions of their return policies." Seven other companies, including Best Buy, paid fines for "charging customers 'restocking fees' without clear disclosure."

There are many retailers that have restock fees so it's best to check that ahead of time when making a purchase.

Updated 5/25/08

A real example of the eRumor as it has appeared on the Internet:

BEST BUY, MY FOOT!!

Best Buy has some bad policies....

Normally, I would not share this with others, However, since this could happen to you or your friends , I decided to share it.

If you purchase something from, Wal-Mart, Sam's Club, JC Penny, Sears etc. If you return
the item with the receipt.. They will give you your money back if you paid cash, or credit your account if paid by plastic.

Well, I purchased a GPS for my car, a Tom Tom XL.S from "Best Buy". They have a policy that it must be returned within 14 days for a refund!

So after 4 days I returned it in the original box with all the items in the box, with paper work and cords all wrapped in the plastic. Just as I received it, including the receipt.

I explained to the lady at the return desk I did like the way it could not find store names. The lady at the refund desk said, there is a 15% restock fee, for items returned. I said no one told me that. I said how much would that be. She said it goes by the price of the item. It will be
$45.00 Dollars for you. I said, all your going to do is walk over and place it back on
the self! Then charge me $45.00 of my money for restocking!! She said that's
the store policy. I said if more people were aware of it they would not buy
anything here! If I bought a $2000.00 computer or TV and returned it I
would be charged $300.00 dollars restock fee!! She said yes, 15%.

I said OK, just give me my money minus the restock fee.

She said, since the item is over 200.00 dollars, she cant give me my
money back!!!

Corporate has to and they will mail you a check in 7 to ten days.!!
I said "WHAT?!"

It's my money!! I paid in cash! I want to buy a different brand..Now I have to wait 7 to 10 days. She said well, our policy is on the back of your receipt.

I said, do you read the front or back of your receipt? She said well, the front! I said so do I, I want to talk to the Manager!.

So the manager comes over, I explained everything to him, and he said, well, sir they should of told you about the policy when you got the item. I said, No one, has ever told me about the check refund or restock fee, when ever I bought items from computers to TVs from Best Buy. The only thing they ever discussed was the worthless extended warranty program. He said
Well, I can give you corporate phone number.

I called corporate. The guy said, well, I'm not supposed to do this but I can give you a 45.00 dollar gift card and you can use it at Best Buy. I told him if I bought something and returned it, you would charge me a restock fee on the item and then send me a check for the remaining 3
dollars. You can keep your gift card, I'm never shopping in Best Buy ever again, and
If I would of been smart, I would of charged the whole thing on my credit
card! Then I would of canceled the transaction.

I would of gotten all my money back including your stupid Fees! He didn't say a word!

I informed him that I was going to e-mail my friends and give them a heads up on this stores policy, as they don't tell you about all there little caveats

So please pass this on. It may save your friends from having a bad experience of shopping at Best Buy.